05/09/18 06:28 UTC-4

Bitcoin Gold as alternate currency

Alternate currency Bitcoin Gold
Alternate currency Bitcoin Gold

Investors' dissatisfaction in classical Bitcoin resulted in occurrence of various sort of branching (forks) which receive not only an additional attachment to title, but also a series of functionalities, beyond the reach parent platform. Bitcoin Gold (BTG) was created, as the next attempt to destroy the monopoly of large companies obtaining cryptocurrency and by that putting under doubt Bitcoin's network decentralization principle.

Interesting in the section: Bitcoin Cash SV features

Work principles

Bitcoin Gold developers created an alternate cryptocurrency, the main difference of which, is opportunity to extract coins even on the most simple computer equipment. Popularity of Bitcoin and subsequent growth of cost of virtual currency practically common users were unscrewed from it , for which purchase of overproductive equipment for acknowledgement of transactions turned out expensive pleasure.

Bitcoin Gold motto sounds so: “To make Bitcoin decentralised again”. For realisation of conceived, developers stopped their choice on other hashing algorithm, which makes difficult mining on powerful ASIC equipment. Bitcoin Gold Creators offered to use work proof algorithm called Equihash, thereby declining all known SHA-256. Finally, network users had an opportunity of mining of gold coins and to be independent of capacity of their equipment.

Bitcoin Gold should account for competition to the platform called Ethereum, as it too does not use cryptographic methods of hashing  incorporated to ASIC work . One more feature of Bitcoin Gold is support of the technology SegWit, which increases the amount of transactions of one block and supplies protection from repetitions.



Interesting fact in work of  Bitcoin Gold is not only the way of mining, but also opportunity of convertation of virtual coins of classical Bitcoin. So, if you possess one Bitcoin it means that You can use it, as one Gold Bitcojn. Double or reuse coins is excluded, indeed the technology of block chain confirms uniqueness of each transaction.

Interesting in the section: Advantages of Monacoin

The fork to Bitcoin Gold allocated a new platform to separate network at the end of 2017 and even, in spite of it, cost of one coin in the beginning of 2018 exceeds hundred dollars. Until it  is hard to assert that Bitcoin Gold will become an alternate cryptocurrency for Bitcoin, as it  is hard to interest users to extract a less popular currency.


According to the opinion of the experts of cryptocurrency market, Bitcoin Gold has not bad chances to enter in top of 20 digital currencies on the level of capitalization in 2018.

Editor: Yuliya Soroka

#BitcoinGold #cryptocurrency #blockchain #Bitcoin #BTG



04/04/19 03:30 UTC-4

What is USDC? Complete Starter Guide for USD Stablecoin

​Description and characteristics USD Coin (USDC) is a type of cryptocurrency that is called a stable coin. You can always buy back a coin of 1 US dollar for 1 US dollar, providing it with a stable price.

12/07/19 05:00 UTC-4

Financial geography: countries where cryptocurrency is banned

Although cryptocurrencies have become an innovative novelty of the modern financial sector, they are not accepted in all states. There is a list of countries where the possession of cryptocurrency assets is not only prohibited, but also criminally punishable.

25/06/19 10:16 UTC-4

With the CEX.IO app, Bitcoin is in your pocket

​In a very short period, many cryptocurrency applications have appeared, worth billions of dollars. Cryptocurrency trading is now entering the mainstream, and traders should check prices constantly and even on the go on their Android or iOS devices.

12/05/19 05:00 UTC-4

Buy Bitcoin in 2010: how much did those who invested in BTC earn a few years ago?

​Bitcoin is the first and most popular cryptocurrency in the world. The maximum price increase of digital gold was recorded in December 2017, when the cryptocurrency overcame a maximum of $ 20,000. However, many do not recall that at the beginning of their existence, BTC coins were worth less than one dollar.

31/01/19 07:56 UTC-4

Proof of Work (PoW) – consensus algorithm and mining-tool

Today, cryptocurrencies have become an integral financial instrument. Many countries use crypto-coins and blockchain to improve the financing system and other areas of life. One of the popular terms that often appears in conversations about cryptocurrency is Proof of Work or PoW.